- Joined
- Mar 30, 2005
- Professional Status
- Certified General Appraiser
- State
- New York
Is the building specifically built to be a child-care center?
In almost every case I've come across the "child-care" center is run by a non-profit business in building that has alternative uses; i.e., not built specifically as a child-care center. The child-care business was simply occupying a church, office space, etc. As such, it wasn't the HBU of the property, and had no relevance to the valuation of the property. The few exceptions included a child-care center that was part of a larger business; e.g., a large recreational property that happened to have a building devoted and specifically built for child care.
In almost every case I've come across the "child-care" center is run by a non-profit business in building that has alternative uses; i.e., not built specifically as a child-care center. The child-care business was simply occupying a church, office space, etc. As such, it wasn't the HBU of the property, and had no relevance to the valuation of the property. The few exceptions included a child-care center that was part of a larger business; e.g., a large recreational property that happened to have a building devoted and specifically built for child care.